Duplex Property with 2008
For Sale
$874,000
24 Mayflower Drive, Plymouth, MA 02360
Residential Income, Plymouth, MA
Property Size3,450 SF
Lot Size0.43 Acres
Price / SF$253.33
Days on Market23
Property Features for 24 Mayflower Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R25
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 5, Bathroom 2, Bedroom 1, Bedroom 4, Bedroom 2, Bathroom 3, Bathroom 1, Bedroom 3
Parking
16
Directions
use gps
Standard status
Active
APN
1124234
Size
3,450 SF
Lot size
0.43 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7911
Amenities
beach access
Building Details
Year built
1958
Floors in Building
4
Number of units
2
Listing Agency:
Keller Williams South Watuppa · Keller Williams Realty
(508) 677-3233
Listed By:
Clifford Ponte · License #9554597
(508) 677-3233
Added: Aug 5
Changed: Aug 26
Last Checked: Aug 27 at 4:06AM
MLS# 73559897
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex property offers 3,450 square feet on a 0.4258-acre lot. Built in 1958, the layout includes five bedrooms and three bathrooms, with an addition completed alongside home upgrades in 2008. The configuration supports separate or multigenerational living arrangements as described in the property information.
The property is located in Plymouth, Massachusetts, and carries R25 zoning. Beach access is included, and no HOA fee applies. A new septic system is planned for installation at closing.
The property is located in Plymouth, Massachusetts, and carries R25 zoning. Beach access is included, and no HOA fee applies. A new septic system is planned for installation at closing.
Key Highlights
- 3,450‑square‑foot duplex property on a 0.4258‑acre lot
- Five bedrooms and three bathrooms
- Addition and home upgrades completed in 2008
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$58,306
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.67%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,166,120
$1.2M
Cap Rate 7%
$832,943
$832.9K
Cap Rate 9%
$647,844
$647.8K
Market Conditions
NOI Build-Up for 3,450 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$88.0K $25.50/SF
− Vacancy
−$4.7K −$1.36/SF
EGI
$83.3K $24.14/SF
− OpEx
−$25.0K −$7.24/SF
NOI
$58.3K $16.90/SF
Area
Plymouth County, MA
Vacancy
5.32%
Lease Rate
$25.50 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,166,120
Cap Rate 7%
$832,943
Cap Rate 9%
$647,844
Alternative Uses
Best Use
Multifamily LT 5
$832.9K
$728.8K – $971.8K
NOI $58,306 @ 7.0% cap · market cap 6.67%
Second Best
Apartment 5plus
$767.7K
$671.7K – $895.6K
NOI $53,737 @ 7.0% cap · market cap 6.15%
Theoretical Best
Office A
$2.04M
$1.79M – $2.38M
NOI $142,967 @ 7.0% cap · market cap 16.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
27
Businesses Nearby
Explore this area
Business Placement
Demographics for 02360, MA
61,134
Population
28,598
Households
2.1
Avg Household Size
47
Median Age
45%
College-Educated
96%
High-School Grad
96.4 sq mi
ZIP Area
634
Density / Sq Mi
$111,975
Median Household Income
$55,595
Median Earnings
$1,831
Median Rent
$494,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - The property includes a renovated addition, three bathrooms, and no HOA fee.
Where is this duplex located?
The property is located at 24 Mayflower Drive Plymouth, MA.
What is the asking price?
The asking price for this property is $874,000.
What are key features of this property?
This property features: 3,450‑square‑foot duplex property on a 0.4258‑acre lot; Five bedrooms and three bathrooms; Addition and home upgrades completed in 2008
